Social Security Crisis, or Crisis of Faith?
Re “Social Security ‘Crisis Is Now,’ Bush Says in Pitch for Overhaul,” Dec. 17: We’ve all heard President Bush cry wolf before, and now I’m wondering what he has up his sleeve with Social Security reform. What’s really going on? Who’s really going to profit? Who’s really going to pay? We Americans must stop being jerked around every time this man sounds the alarm. Let’s do our due diligence and make wise decisions -- please.
Pamela Kelly
Long Beach
*
So, it will take $2 trillion to get private accounts going. That’s $2 trillion less in the Social Security fund. Great for Wall Street. Amazing that the public goes along with pumping up the rich and letting their own benefits get into trouble. The public is doing the same thing by allowing the wealthy to have their tax breaks made permanent, which means our own taxes will have to go up or our children will be stuck with huge debts.
Annette Robinson
Venice
*
The Bush administration is promoting the notion that health savings accounts will make people “wiser spenders of their own funds” and believes that Americans with Social Security private investment accounts will wisely accept lower potential yields in order to limit their risk. The belief that human nature would become better if the proper external forces were brought to bear has foiled every utopian movement through history. Social engineering is no less pernicious or prone to failure when practiced by conservatives than when practiced by liberals.
Chris Plourde
Venice
*
Encourage the use of, even if it’s necessary to modify, the current individual retirement account, the Roth-IRA and 401k accounts as vehicles that allow individuals to control their own savings, stocks, bonds and real estate investments for retirement. With some modification, the current Social Security system should be seen and retained as the foundation for an individual’s retirement program that is then built on and enhanced by his or her own IRA, Roth-IRA or other investments.
William Warren
Corona del Mar
